Today, the Organisation for Economic Cooperation and Development will release the first of two Economic Outlook reports for 2018. The

Photo: Reuters/Carlos Barria

Today, the Organisation for Economic Cooperation and Development will release the first of two Economic Outlook reports for 2018.

The purpose of the Economic Outlook is to summarise the economic activity of both OECD members as well as other large and rising economies. An interim report published on March 13 indicated that global GDP and trade growth over 2017 was higher than anticipated, setting positive forecasts for 2018.

This report will also consider possible infringements to this ongoing growth, including poor labour productivity, climate change, and the ramifications of US protectionist trade policies. While EU trade officials are currently working to secure permanent exemption from President Donald Trump’s tariffs by Friday, Beijing awaits the final June 15 announcement of specific tariffs so as to gauge a proper response.

Amidst this volatile time in US international trade policy, the OECD Economic Outlook may have to vastly adjust its assessment come the second report. However, at least for the time being, expectations for the global economy will likely remain rosy.

Wake up smarter with an assessment of the stories that will make headlines in the next 24 hours. Download The Daily Brief.